The initial public offering (IPO) of Happy Forgings will open for subscription on December 19 and close on December 21, is a fresh issue and offer for sale of 1,008.59 crores from the primary market. An investor can apply for the issue for a minimum of 17 shares and in multiples after that.
About Happy Forgings Company
Happy Forgings (1979) is an engineering-led manufacturer of safety-critical, heavy-forged, and high-precision machined components.
Product portfolio: Crankshafts, front axle beams, differential cases, Transmission parts, planetary carries, suspension brackets, etc.
Fourth largest engineering-led manufacturer.
The company has three manufacturing facilities in Punjab.
The company exports to nine countries including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, UK, and USA.
Happy Forgings IPO Object
The objects of which the net proceeds from the issue shall be utilized are as follows:
- Purchase of equipment, plants, and machinery
- Repayment of all or a portion of certain borrowings availed by the company
- General Corporate Purposes
Happy Forgings Strength
- Leverage in-house engineering and product development capabilities.
- Foray into lightweight forging and machining with the introduction of aluminum components.
- Expand capacity at existing manufacturing facilities.
- Continue to reduce operating costs and improve operational efficiencies
- Diversified business model
- Track record of healthy financial performance
Happy Forgings Risk Factor
- The company business is dependent on the performance of certain industries.
- The company is dependent on third parties for the transportation and timely delivery of products to customers.
Happy Forgings IPO Review & Rating
| Issue Size (Rs.) | 1,008.59 Crore |
| Issue Price (Rs.) | 808-850 per share |
| Minimum Lot Size | 17 shares |
| Total Profit (March 2023) (Rs.) | 208.70 crore |
| P/E (%) | 36.45 |
| ROE (%) | 21.12 |
| Listing on | BSE and NSE |
| IPO Deliver Rating | Four |
Happy Forgings IPO Dates, Price Band & Details
Happy ForgingsIPO will open on December 19, 2023, and close on December 21, 2023. The IPO list on December 27, 2023.
| Type of issue | Book Built Issue IPO |
| Issue Size(Rs.) | 1,008.59 Crore |
| Price Brand(Rs.) | 808-850 |
| Face Value(Rs.) | 2/- per share |
| IPO Open Date | December 19, 2023 |
| IPO Close Date | December 21, 2023 |
| IPO Allotment Date | December 22, 2023 |
| Refund Date | December 22, 2023 |
| Share Credit Date | December 26, 2023 |
| Listing Date | December 27, 2023 |
Happy Forgings IPO Offer
Happy ForgingsIPO’s total issue size is ……….. shares, comprising the below-mentioned categories.
| Offer Category | Shares Offer | Amount (Crore) |
| Fresh Issue | …….. | 400.00 |
| Offer for Sale (OFS) | 71,59,920 | 608.59 |
Happy Forgings Financials Review (million)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category (Rs.) | March 31, 2023
Consolidated |
March 31, 2022
Consolidated |
March 31, 2021
Standalone |
| Total Revenue | 11,965.30 | 8,600.46 | 5,849.58 |
| Net Worth | 9,883.06 | 7,876.34 | 6,451.59 |
| Profit | 2,087.01 | 1,422.89 | 864.48 |
| Borrowings | 2,185.16 | 2,403.52 | 1,534.70 |
Happy Forgings IPO Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| EPS (Rs.) | 23.32 | 15.90 | 9.66 |
| RoNW (%) | 21.12 | 18.07 | 13.40 |
| NAV (Rs.) | 110.43 | – | – |
Happy Forgings IPO Peer Comparison (Top 2)
There are listed companies in India that are comparable in all aspects of business.
| Company Names | EPS (Rs.) | RoNW (%) | NAV (Rs.) |
| Bharat Forge | 11.35 | 7.88 | 144.02 |
| Craftman Automation | 117.56 | 18.04 | 651.68 |
Happy Forgings Company Promoters
As per the DRHP and RHP, the company has seven promoters.
| Serial No. | Name |
| 01. | Paritosh Kumar |
| 02. | Ashish Garg |
| 03. | Megha Garg |
| 04 | Ayush Capital and Financial Services Private Limited |
| 05. | Garg Family Trust |
| 06. | Paritosh Kumar Trust (HUF) |
| 07. | Ashish Garg and Sons (HUF) |
Happy Forgings Pre-offer and Post-Offer Promoters Shareholding
| Promoter and promoter group Shareholding | Percentage (%) |
| Pre-Issue | 88.24 |
| Post- Issue | – |
Happy Forgings IPO Reservation
Happy Forgings IPO total reservation shares are distributed between the below-mentioned categories.
| Category | No. of Shares |
| QIB Share Offered | Not less than 50% of the issue size |
| RII Share Offered | Not more than 35% of the issue size |
| NII Share Offered | Not more than 15% of the issue size |
Happy Forgings IPO – Market Lot Size
An investor can apply for a minimum of 17 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail (Min.) | 01 | 17 | 14,450 |
| Retail (Max.) | 13 | 221 | 1,87,850 |
| HNI (Min.) | 14 | 238 | 2,02,300 |
| HNI (Max.) | 69 | 1,173 | 9,97,050 |
Happy Forgings IPO – Prospectus
An investor can download/view the Happy Forgings prospectus copy, which was filed by the company to SEBI, details are as follows.
| Happy Forgings IPO Prospectus | Download/View Links |
| Draft Red Herring Prospectus (DRHP) | Click here |
| Red Herring Prospectus (RHP) | Click here |
Happy Forgings IPO Registrar
Link Intime India Private Limited
Tel No.: +91-4067162222
E-Mail: happyforgings.ipo@linkintime.co.in
Website: www.linkintime.co.in
Happy Forgings IPO lead manager
#1. Axis Capital
#2. JM Financial
Happy Forgings IPO Application (How to Apply for an IPO)
There are primary four options for applying for a Happy Forgings IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Happy Forgings Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked till the allotment date, and after it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Happy Forgings Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or refunded in case no allotment is made to you.
Happy Forgings Company Details
Happy Forgings Limited
Registered Office: B XXIX, 2254/1, Kanganwal Road, P.O. Jugiana, Ludhiana – 141 120, PUNJAB
Tel. No: +91-161 5217162
Email: complianceofficers@happyforgingsltd.com
Website: www.happyforgingsltd.com
Investor Grievances/Compliance Officer: Mr. Bindu Garg
Happy Forgings Subsidiary Companies (Top 2)
| Serial No. | Name of Companies |
| 01. | – |
| 02. | – |
Happy Forgings Company Board (Top 2)
| Serial No. | Name of Directors |
| 01. | Paritosh Kumar |
| 02. | Ashish Garg |
Happy ForgingsIPO – Frequently Asked Questions (FAQs)
| #1. What is Happy ForgingsIPO?
Happy Forgings brings its IPO of Rs.1,008.59 crores, on December 19, 2023, with a price band of Rs. 808-850 per share. |
| #2. What is the Happy ForgingsIPO Open date?
Happy ForgingsIPO’s opening date is December 19, 2023. |
| #3. What is the Happy ForgingsIPO Close Date?
Happy ForgingsIPO’s closing date is December 21, 2023. |
| #4. What is the Happy ForgingsIPO Listing date?
Happy Forgings IPO listing date is December 27, 2023. |
| #5. What is the Happy ForgingsIPO Minimum investment amount?
Happy Forgings IPO’s minimum investment amount is Rs. 14,450 |
| #6. What is the Happy ForgingsIPO offer issue Size?
Happy Forging offers an issue size of Rs. 151.09 crores. |
| #7. What is the Happy ForgingsIPO Price Band?
Happy Forgings IPO price band is Rs. 808-850 per share. |
| #8. Is Happy ForgingsIPO mainboard IPO or SME IPO?
Happy Forgings IPO is a mainboard IPO. |
I?¦m not sure where you’re getting your information, but good topic. I must spend a while finding out much more or figuring out more. Thank you for fantastic information I used to be on the lookout for this information for my mission.
It is actually a great and useful piece of info. I¦m satisfied that you simply shared this useful info with us. Please keep us informed like this. Thank you for sharing.
Great ?V I should certainly pronounce, impressed with your web site. I had no trouble navigating through all tabs and related information ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or anything, site theme . a tones way for your client to communicate. Excellent task..